First and foremost, I agree that interest rates should be capped, by law, and I would suggest a maximum in line with store cards (about 30%-35% APR).

The reason given by government for failing to clamp down on these firms is that doing so would simply drive their clients into the waiting arms of the friendly neighbourhood loan shark, and that does have some validity.

However, a cap on interest would possibly remove the most avaricious usurers from the scene, leaving only the few who would find that lower interest acceptable.

Time to give the government a nudge in the right direction!

Maybe if enough of us propose that "38 Degrees" take it up as their next project instead of moaning about it here?

Don T.